Tuesday, September 27, 2022

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funding winter: ETtech Offers Digest: Startups proceed to reel below the funding winter

Massive numbers proceed to name it a move within the Indian startup funding state of affairs. After weeks of tepid funding rounds concerning numbers and values, this week additionally appears to have sub-$100 million offers. Macroeconomic concerns, slowing economies, and tighter liquidity throughout economies are prone to be the rationale.

Solvy Tech Options, which runs the insurtech platform Zopper raises $75 million

Solvy Tech Options, which runs insurtech platform Zopper, has
raised $75 million from buyers led by Creaegis, in participation with ICICI Enterprise and Bessemer Enterprise Companions, and current backer Blume Ventures. Zopper cofounder Surjendu Kuila informed ET that the capital shall be used to help the worldwide growth of Zopper, to beef up the platform’s expertise and information engineering

Gifting options firm Be part of Ventures raises $23.5 million

Gifting options firm Be part of Ventures
has raised $23.5 million (Rs 187 crore) in its newest funding spherical led by MO Alternate Funding Advisors, a subsidiary of economic providers conglomerate Motilal Oswal Monetary Providers.

Audio streaming startup Kuku FM raises $21.8 million

On Wednesday, audio streaming startup Kuku FM mentioned it
has raised $21.8 million in funding led by Nandan Nilekani’s enterprise fund Fundamentum Partnership. Kuku FM mentioned it would deploy the funds to develop its catalogue, strengthen its content material creation ecosystem, and supply extra language decisions to listeners because it goals to realize an over 10 million paid subscribers base by finish of subsequent yr.

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F2C model Deep Rooted raises $12.5 million

Deep Rooted, a farm-to-consumer (F2C) model for fruit and veggies, introduced it
has raised $12.5 million in a funding spherical led by IvyCap Ventures, with participation from current buyers together with Accel, Omnivore and Mayfield. Over the following 12 months, the startup plans to develop its operations to cowl main cities in South India, strengthen its expertise stack, and proactively rent throughout advertising, expertise and enterprise capabilities.

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Web3 chess startup and market Immortal Recreation raises $12 million

Web3 chess startup and market Immortal Recreation mentioned it
has raised $12 million in funding led by TCG crypto. Different tech and leisure VC specialists comparable to Cassius, Greenfield One, Sparkle Ventures, Kevin Durant’s and Wealthy Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital additionally participated within the spherical.

Speech expertise startup Murf AI raises $10 million

Speech expertise startup
Murf AI mentioned it has raised $10 million in funding led by Matrix Companions India. Present investor Elevation Capital, and outstanding angel buyers comparable to Ajay Arora, senior vp, product, Disney Streaming; Ankit Bhati, cofounder of Ola; Ashwini Asokan, cofounder of Mad Road Den additionally participated.

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